shop2order
Active member
- Joined
- Aug 29, 2016
- Messages
- 26
My 4 month old 2016 Nissan Leaf SV was unfortunately badly damaged in an accident where I was clearly at fault. My insurance has estimated the damages to be high and declared that it would be a total loss. This is on a 3 year lease from NMAC.
Insurance has quoted me an assessed value which is almost my payoff balance on the lease. However, I had also made a cash down payment of $2,500 at the time of leasing. NMAC only cares about getting paid the payoff amount.
How can I negotiate with insurance to pay me (at-least part of) the downpayment I had made at the time of leasing? I find it hard to believe that all that value has been depreciated in just 4 months. I also understand that insurance will want to make a very conservative estimate to make the minimum payout.
Should I get my own fair value estimate e.g. from KBB or Edmunds, which might be higher? Will that be acceptable by insurance?
Also, which kind of estimate will apply to me -- trade-in value, private-party sale or certified pre-own price from dealer. KBB/Edmunds have several price points estimate based on which one I choose
Insurance has quoted me an assessed value which is almost my payoff balance on the lease. However, I had also made a cash down payment of $2,500 at the time of leasing. NMAC only cares about getting paid the payoff amount.
How can I negotiate with insurance to pay me (at-least part of) the downpayment I had made at the time of leasing? I find it hard to believe that all that value has been depreciated in just 4 months. I also understand that insurance will want to make a very conservative estimate to make the minimum payout.
Should I get my own fair value estimate e.g. from KBB or Edmunds, which might be higher? Will that be acceptable by insurance?
Also, which kind of estimate will apply to me -- trade-in value, private-party sale or certified pre-own price from dealer. KBB/Edmunds have several price points estimate based on which one I choose